Sales Tax Rebate under RIEDC “Project Status”
Firms using bond financing programs offered through the Rhode Island Economic Development Corporation or which are given “Project Status” by the RIEDC are exempt from Rhode Island sales tax on construction materials and equipment, furniture, fixtures, machinery, computers and equipment for the facility that are not already exempt from sales tax under other provisions of the state law, e.g.: pollution control equipment. To be considered for project status, a project must result in the addition of at least 100 new jobs. An RIEDC analysis of the proposed project's fiscal impact is conducted before “project status” is granted. Final approval rests with the state General Assembly.
Jean Robertson